Samsung forecasts record-breaking profits in Q1 2017.
As the largest Android manufacturer, Samsung records more profits than the rest of the field put together. And it now looks like the company is set to post its highest-ever profits in the first quarter of a year, culminating in its second-best quarter ever.
In its Q1 2017 earnings guidance, Samsung forecast an operating profit of $8.8 billion (9.9 trillion won) over revenues of $44 billion (50 trillion won), falling short of the $9.56 billion it recorded in Q3 2013.
For a company dealing with the aftereffects of a global recall and the indictment of its leader, it did incredibly well.
Samsung managed to achieve significantly higher profits even though overall revenue was relatively unchanged from a year prior. The increase in profits is attributed to the manufacturer's semiconductor business as well as increased sales of its low- and mid-range devices. Samsung will detail its earnings later this month.
With the manufacturer having to delay the launch of the Galaxy S8, revenue from initial sales of this year's flagship will count toward next quarter's earnings, which is already predicted to be Samsung's most profitable yet.